Buy to let remortgages have been helping landlords add more properties to their portfolios.  The buy to let market is growing and landlords have great demand being put on their business by renters.  Of course they want to add more properties so they can make more money and it is advantageous to the renters that need somewhere to live.  According to the Council of Mortgage Lenders (CML) there has been a large number of buy to let loans with the number reaching 34,500 in the third quarter.  This was a 16 per cent increase over the 29,700 in the second quarter.  The high demand on buy to let properties is expected to trend for many years ahead.

Paul Smee, director general of the CML, said, “With tenant demand remaining strong in the rental sector, some existing BTL landlords have been expanding their portfolios and the growth that returned to the sector in the preceding quarter has continued. The recovery of BTL from its low point in 2009 has helped improve supply and choice in the rental market. Despite recent improvements, however, BTL lending volumes are still only around one-third of their former peaks.”

Charles Haresnape, managing director of Aldermore Residential Mortgages, said, “The continued buoyancy of the BTL sector is excellent news for landlords, lenders and intermediaries. It confirms that investor appetite for residential property remains strong, which has been fuelled by growing tenant demand. It does, however, underline the plight of many first-time buyers, who are being held-back because of their inability to raise sufficiently large deposits.”